What is payment accounts in PhantomERP? #

Payment accounts are like for example bank account. You can transfer money from one payment account to another, deposit cash in payment account, pay to a supplier, or deposit the amount received from a customer here.

Enabling Payment account #

• Go to Settings ->Business Settings -> Modules
• Enable payment ‘Account’ option
• Save it.
• After saving you will see the “Payment accounts” option will be visible in the left navigation bar.

Payment account type & sub-type #

1. Go to Payment accounts -> List accounts -> Account Types
2. Account type: to add an account type click on Add button and enter the name of the account type and submit. Keep the Parent account type unselected.
3. Sub-Account type: To add a sub-account type click on Add button, enter the name of the sub-account type and select the Parent-account-type.
4. When creating an account you can select the account type as per your need.

Creating Payment accounts #

1. To create a payment account, Go to Payment Accounts -> List Accounts, click on Add button
2. Fill in all the details like name, account number, Account type, opening balance, Account details & notes.
3. Account Details: Here you can add any additional account details, like for example UPI ID, SWIFT code, BIN number, etc which vary depending on the accounts.

Transferring funds between Payment accounts: #

You can transfer funds between the payment accounts.

In the Payment Accounts -> List Accounts, click on fund transfer.